Tue, 20 Aug 2019

Will the United States Leave the World Trade Organization?

Novinite.com
14 Aug 2019, 22:12 GMT+10

Donald Trump has announced that if necessary, the United States will leave the World Trade Organization (WTO), AFP reports.During a visit to Pennsylvania, the president announced, "We know the WTO has been screwing us for years. That won't happen again. "The World Trade Organization is often the target of various attacks by Donald Trump.The billionaire has previously threatened that the US will leave the organization on the grounds that the WTO has an unfair treatment of the country and that Washington is not compelled to comply with WTO rules.Trump has often criticized the conditions under which the WTO allowed China to accede.Despite the president's complaints, the US actually has a positive balance when it comes to WTO trade disputes.According to experts, the administration of Donald Trump has virtually blocked the work of the WTO through its actions.The United States insists on reworking a number of rules within the organization and blocking the appointment of new members to the commercial disputes committee.According to Chad Bown of the Peterson Institute for International Economics, these US actions weaken the WTO and cause "long-term defeat", some of which cannot be corrected.

Copyright (c) Novinite.com. Published with permission via Big News Network news agency

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